Tex. Bus. Org. Code § 101.204

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 101.204 - Interim Distributions

A member of a limited liability company, before the winding up of the company, is not entitled to receive and may not demand a distribution from the company until the company's governing authority declares a distribution to:

(1) each member of the company; or

(2) a class or group of members that includes the member.

Tex. Bus. Org. Code § 101.204

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. 1/1/2006.